New month (new year!) = new net worth goal update. This month was a big one for me in terms of asset growth thanks to a semi-unexpected cash influx. Here’s how things stacked up:
Overall, my net worth is up 30% this month. Cash savings increased by 25%, bringing my cash holdings back to the level I’d like to maintain. My non-retirement investments increased by 5% due mostly to new investments that I made. Since I began tracking my net worth goal in July of 2015, my non-retirement investment account balance has increased by 97%, which I am extremely happy with. Of course, I’m still far shy of my goal to increase my non-retirement investments by 271% this year, but I’m making progress!
The big mover this month was my retirement accounts, which increased by 41% this month alone. The reason that this balance increased by so much this month is that I received the final payout of retirement assets tied to my previous job. This was money that I knew was coming to me but I wasn’t sure exactly how much it would be (it was tied to a pension so I never saw a balance before it was paid out) and I had no idea when it would finally be paid out (it took nearly three months!). I rolled all of this money over into a rollover IRA.
With this payout, my retirement investment balance is now greater than my goal for the year. Theoretically, this would mean that I should have either paid out the taxes now and added this money to my non-retirement investment account, or should cease saving for retirement for the rest of this fiscal year. However, I think that either of these decisions would be poor choices from a larger financial health perspective, so I decided to do what was best in the long term even though it might negatively impact my goal progress this year.
How did December stack up for you?